In the UK, one of the few growth sectors during the COVID-19 pandemic has been transportation services and in particular, food delivery.
By the end of March 2020, revenue in the UK online groceries delivery segment was up by 11.5% compared with Jan-March in the previous year. Despite the amount of traffic on our roads falling to levels not seen since 1955 during the pandemic, the number of people driving for work to deliver food and other items has increased.
In the same month, Tesco added more than 200 new vans and hired another 2,500 drivers. Other supermarkets such as…
today’s financial news
India Seeks to Separate Lenders to Ease Clean Energy Financing
(Bloomberg) — India may unwind a four-year-old decision to combine two state-run lenders as it seeks to sidestep local rules that restrict them from funding power projects in one of the world’s fastest-growing energy markets.
The government is discussing a plan for state-run Power Finance Corp. to sell its controlling stake in REC Ltd. to transmission utility Power Grid Corp., which is flush with cash, Raj Kumar Singh, the nation’s power minister, said in an interview in New Delhi. Power Finance and REC will enjoy their different exposure limits as separate companies, potentially resulting in greater project funding, he said.…